Question
In a 351 transaction, Nichole transfers property with a value of $100,000 (adjusted basis = $80,000) to XYZ Corp. for stock worth $50,000. XYZ assumes
In a 351 transaction, Nichole transfers property with a value of $100,000 (adjusted basis = $80,000) to XYZ Corp. for stock worth $50,000. XYZ assumes the $50,000 mortgage against the property. What is the recognized gain or loss on the transfer?
| a. | $50,000 Loss | |
| b. | $0 Gain or Loss | |
| c. | $20,000 Gain | |
| d. | $30,000 Loss |
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Construction Auditing Planning Implementation Use
Authors: Peter Wotschke, Gregor Kindermann
1st Edition
3658388404, 978-3658388409
